Central Bank of Iraq Reports Significant Dollar Sales in January
The Central Bank of Iraq (CBI) recorded impressive sales through its hard currency auction, specifically the US dollar, totaling over $5 billion in January.
During the auction days within the month, the CBI recorded sales amounting to $5,533,803,804, averaging daily transactions of approximately $291,252,831.
External Transfers and Cash Sales Analysis
A substantial portion of these sales derived from external transfers, reaching $5,213,123,804, which indicates a remarkable 93% increase compared to cash sales, which stood at $320,700,000.
The distribution of these funds highlights a dual purpose; they were allocated both for remittances aimed at financing foreign trade and for cash sales conducted by banks. Notably, the pricing mechanism for documentary credits and international electronic payments was set at 1,310 dinars per dollar, while the selling price for transfers abroad and the cash sale price was established at 1,305 dinars per dollar.
Sales Overview: January 2023
| Category | Amount (USD) |
|---|---|
| Total Dollar Sales | $5,533,803,804 |
| Daily Sales Average | $291,252,831 |
| External Transfers | $5,213,123,804 |
| Cash Sales | $320,700,000 |
| Documentary Credits Price | 1,310 dinars/$ |
| Transfers and Cash Sale Price | 1,305 dinars/$ |
This performance underscores the central bank’s pivotal role in stabilizing the currency exchange mechanism and facilitating international trade through effective monetary policies.
